As European governments continue to investigate the damage to the Nord Stream systems and the possible end to Russian natural gas imports, the Baltics celebrated a new pipeline and pathway for Norwegian supply. Equinor ASA has signed a long-term sales agreement to deliver additional natural gas supplies to Poland via the Baltic Pipe system, which…
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TotalEnergies Expanding North Field Investment with Qatar to Build LNG Capacity
TotalEnergies is expanding its investment in Qatar’s next wave of natural gas and LNG development as the first international stakeholder in the North Field South (NFS) project. The French major agreed to take a more than 9% stake in the 16 million metric ton/year (mmty) liquefied natural gas project planned for the waters off of…
Nord Stream Pipe Damage Sparks European Natural Gas Price Surge
European natural gas and power prices reversed a nearly week-long decline on Tuesday as news of potential damage to the Nord Stream 1 (NS1) and Nord Stream 2 (NS2) pipeline networks stoked concern about the future of Russian supply to the continent. The operator of NS1, Nord Stream AG, detected a drop in pressure late…
Woodside Relinquishes Newfoundland Offshore Licenses Amid LNG, GOM Focus
Remote North Atlantic drilling offshore Newfoundland has lost out in competition against LNG and lower-cost Gulf of Mexico wells for investment by top Australian producer Woodside Energy Group Ltd. The Perth-based firm dropped Grand Banks exploration licenses, acquired in its June merger with BHP Petroleum, that fetched work bids of C$822 million ($616 million) in…
API: European LNG Demand, Role of U.S. Natural Gas Outpaces Previous Estimates
The European Union has made significant progress to replace Russian natural gas, but an abrupt stop to pipeline flows could mean future U.S. LNG projects will be the key to rebalancing energy markets on the continent, industry groups highlighted in a new analysis. In a new report by Rystad Energy AS, conducted for the American…
Europe’s Sustainable Label for Natural Gas, Nuclear Under Fire
More than a dozen non-governmental (NGO) and environmental organizations are challenging the European Union’s (EU) decision to label natural gas and nuclear as sustainable investments under a law adopted in July. The EU taxonomy under the Climate Delegated Act (CDA) is a classification system established to clarify which investments are considered sustainable. The groups opposing…
Asian Spot LNG Price Starts to Firm as Winter Nears
SINGAPORE (ICIS) –The ICIS East Asia Index (EAX) firmed on 22 September on early TTF trades and tender information, resulting in a spot value of $41.00/MMBtu, $2/MMBtu higher than the previous day’s close.
Natural Gas Forward Prices Plummet as Supply Growth Seen Improving Storage Outlook
Dragged lower by an upward swing in production, moderating weather and an ongoing curtailment of feed gas deliveries to the Freeport LNG facility, natural gas forward prices crumbled during the trading period from Sept. 15 to Sept. 21. Steep declines of more than 70 cents extended from the October contract through the winter season (November-March),…
Driftwood LNG Loses Shell, Vitol Supply Agreements in Major Setback
Tellurian Inc. said Friday that two sales and purchase agreements (SPA) underpinning its proposed Driftwood LNG terminal in Louisiana have been terminated, dealing another major blow to the project, which was already facing delays. In a regulatory filing with the Securities and Exchange Commission (SEC), Tellurian said an affiliate of Shell plc had terminated a…
LNG Buyers Said Still Hunting for U.S. Volumes, but Project Costs, Complications Are Rising
The market dynamics that have helped boost U.S. LNG export projects since the early spring are likely to continue, at least in part, but the next wave of terminal development will have added financing and inflationary hurdles, according to analysts with Poten & Partners. The Houston-based consultancy has been tracking a flurry of contracting and…